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FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
286
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES
CONSOLIDATED FINANCIAL REPORT AS AT AND
FOR THE YEAR ENDED 31 DECEMBER 2014
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
8. Investments in subsidiaries
Information on significant subsidiaries
Vakıfbank
International
AG
Vakıf
Finansal
Kiralama AŞ
Vakıf Yatırım
Menkul
Değerler AŞ
Vakıf Finans
Factoring
Hizm. AŞ
Güneş
Sigorta AŞ
Vakıf
Emeklilik AŞ
Vakıf Portföy
Yönetimi AŞ
Vakıf
Gayrimenkul
Yat. Ort. AŞ
Vakıf Menkul
Kıymet Yat.
Ort. AŞ
Paid in Capital
114,483
65,000
35,000
22,400
150,000
26,500
3,000
203,320
20,000
Share Premium
-
-
-
-
-
-
-
246,731
-
Adjustment to paid-in capital
353
137
29,228
1,448
10,424
-
21,973
93
Valuation changes in marketable
securities
22,273
2,711
36,611
-
179,635
729
-
-
-
Profit on sale of associates,
subsidiaries and buildings
-
-
-
-
17,734
-
-
-
-
Free shares from investment and
associates, subsidiaries and joint
ventures (business partners)
-
-
-
-
59
191
-
-
-
Legal Reserves
7,237
3,890
5,455
4,988
17,179
15,921
872
3,639
395
Extraordinary Reserves
-
36,846
3,788
32,280
19,247
33,816
6,022
54,773
-
Other Profit Reserves
127,486
(68)
2,146
-
(3,008)
(1,918)
17
10
2
Profit/Loss
116,730
(3,863)
4,640
2,804 (144,925)
86,016
2,561
21,855
(2,492)
Prior Years’ Profit/Loss
82,898
-
810
(8,962)
(124,742)
41,213
-
-
(2,509)
Current Years’ Profit/Loss
33,832
(3,863)
3,830
11,766
(20,183)
44,803
2,561
21,855
17
Minority Rights
-
102
-
-
-
-
-
-
-
Total Core Capital
388,209
104,971
87,777
91,700
237,369
171,679
12,472
552,301
17,998
SUPPLEMENTARY CAPITAL
CAPITAL
388,209
104,971
87,777
91,700
237,369
171,679
12,472
552,301
17,998
NET AVAILABLE EQUITY
388,209
104,971
87,777
91,700
237,369
171,679
12,472
552,301
17,998
The figures from audited BRSA financial statements as at 31 December 2014 are presented.
Vakıf Yatırım Menkul Değerler AŞ, a subsidiary of the Parent Bank, calculates capital adequacy in accordance with “Communiqué on Capital and Capital
Adequacy of Intermediary Firms” of CMB every 6 months. Güneş Sigorta AŞ ve Vakıf Emeklilik AŞ that operate in insurance business calculate capital adequacy
in accordance with “Communiqué on Capital Adequacy Measurement and Assessment for Insurance, Reinsurance and Pension Firms” published by Under
secretariat of Treasury every 6 months. According to the calculations at 31 December 2014, there is no capital requirement for the subsidiaries mentioned.
Unconsolidated investments in subsidiaries
Title
Address
(City/Country)
Bank’s Share –
If Different, Voting Rights (%)
Bank’s Risk
Group Share (%)
1
Vakıf Enerji ve Madencilik AŞ
(**)
Ankara/Turkey
65.50
84.92
2
Taksim Otelcilik AŞ
(*)
İstanbul/Turkey
51.00
51.52
3
Vakıf Pazarlama Sanayi ve Ticaret AŞ
(*)
İstanbul/Turkey
69.33
74.98
4
Vakıf Gayrimenkul Değerleme AŞ
(*)
Ankara/Turkey
54.29
58.54
Total Assets
Equity Tangible Assets Interest Income
Income on
Securities
Portfolio
Current Year’s
Profit/(Loss)
Prior Years’
Profit/(Loss)
Fair Value
1
17,015
8,796
1,063
310
-
182
(548)
14,000
2
309,232
303,566
182,275
7,620
-
6,080
4,836
356,734
3
51,331
42,325
786
1,885
192
5,046
1,475
45,635
4
30,885
25,468
635
1,879
128
4,362
5,790
39,000
(*)
Financial information as at 30 September 2014 has been presented for these subsidiaries.
(**)
Financial information as at 30 June 2014 has been presented for these subsidiaries.